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, much better than the united states. >> is this, do you think, a cue for folks to get into the market because mortgage rates potentially could go even lower? >> well, i think it's a great time to buy a house. i've been saying that for a long time now. when i say a long time, over the last year i've been telling people, go out and buy a house. this is the time to buy a house. hard to get houses finance because the banks aren't lending. try buying the house from a bank. if you buy it from a bank, they'll loan you the money to buy it because they want to bet it off their books. it's a great time to buy a house. pick a beautiful house, enjoy yourselves, and try buying it from a bank. >> good advice, donald. thank you. let me ask you about this election and bernanke. if romney win, should he keep bernanke on or lose him? >> well, i don't think he will. i'm not saying anything good or bad. i'm just saying i don't think he will. he's going to want to come in with his own team, as everybody really does. as usually you would. i think he'll probably come in with his own team. it's really a ques
here in the united states? we've got similar issues, don't we? we have an e more nor we? we have an e more nomous debt l and the debate on what to cut. >> there's always a question of priorities and where you focus your attention. i think the president has made a major effort to reduce the budget deficit and also to invest in the future of the country, just like a corporation in many senses that has too much debt, that it has to put its debt in line with its ability to raise revenues. it also has to invest in its future. the president, i think, is investing in education, infrastructure, many things that will make the country stronger. that's really the goal. it's to have a sound budget policy but also invest in the country's future. i think that's what the president's trying to do. >> but bob, we haven't had a budget in three years. >> well, a lot of programs that he's proposed have not gotten through the congress. that's a big challenge. he's focused on education. he has a very significant proposal on infrastructure development. these are the kind of things that are needed to make us
of would happen if the united states goes over the fiscal cliff. they have to engage in sequestration, or massive budget cuts. by the numbers, here's what in the proposal they put out today starting with a 9% cut to most pentagon programs. customs, the faa, and food inspection services. exempt from the cutbacks are social security, medicaid and also many veterans benefits. earlier today, white house spokesman jay carney said that the white house hopes it never has to put this plan into place. take a listen. >> sequester was designed to be bad policy,n n tn to to be one and to be objectionable to both republicans and democrats. >> now, maria, what the white house is saying also, senior officials here in a briefing earlier today they hope now that some of these painful cuts are laid out, this could help marshal support from republicans to do something about the fiscal cliff before it hits at the end of this year. obviously, there's a big election between now and then. >> oh, yeah. thank you so much. worries those budget woes and tax hikes could come to pass are among the reason busines
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